As the effective interest rate on a 30-Year mortgage dropped below 6%, applications to refinance existing mortgages surged. The index of mortgage applications compiled by the Mortgage Bankers Association rose 5.5% last week, but the [...]
Introducing
Tom Moeller
in:Our Authors
Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
Publications by Tom Moeller
Global| Feb 26 2003Mortgage Applications to Refinance Surged Again
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 25 2003
Chain Store Sales Socked by Snowstorm
Chain store sales dropped 0.8% last week according to the BTM-UBSW survey. This latest drop followed declines in two of the prior three weeks. The President's Day snowstorm which hit roughly half of the country likely accounted for [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 24 2003
Manpower Survey Hiring Index Fell for 2Q03
The Manpower Employment Outlook Survey index of net hiring deteriorated for 2Q03 from the improved level of the prior nine months. The not seasonally adjusted survey results indicated that 22% of firms plan to add employees in 2Q03 [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 21 2003
CPI Up Moderately
The Consumer Price Index (CPI-U) rose as expected last month. Excluding food and energy, prices rose less than Consensus expectations for a 0.2% gain. The core CPI less tobacco rose 0.1% (1.8% y/y). The data reflect annual revisions [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 20 2003
Producer Prices Spiked
Finished producer prices rose in January by the most for any one month since a 1.9% increase in January 1990. (That spike was followed by three months of decline.) Consensus expectations were for a 0.4% gain. Excluding food and energy [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 19 2003
Housing Starts Strong Again
Housing starts were stronger than expected last month. Total starts rose slightly from an upwardly revised December level. Starts had been expected to decline slightly. Single family starts rose 2.1% m/m, nearly to the record high [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 18 2003
Empire State Factory Survey Down in February
The Empire State Manufacturing Survey reported that the index of general business conditions fell sharply this month. Expectations had been for just a sight decline versus January. Despite the decline the general business conditions [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 14 2003
Industrial Production Rebounded
Industrial production rose more than Consensus expectations for a 0.3% gain in January. The rise followed a sharp decline in December that was downwardly revised from a 0.2% drop reported last month. Output in the manufacturing sector [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 13 2003
Retail Sales Fell, Nonauto Sales Jump
Retail sales fell more than consensus expectations for a 0.5% decline. Sales in December were revised up slightly. Sales excluding motor vehicles and parts dealers rose much more than Consensus expectations for a 0.4% gain. The gain [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 12 2003
Mortgage Applications Still Firm
The index of mortgage applications, compiled by the Mortgage Bankers Association, fell last week for the fourth week in the last five. Nevertheless, applications remained up 22.9% so far this year versus December and were up 86.2% [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 11 2003
Chain Store Sales Flat Last Week
Chain store sales were about flat during the first full week of February according to the BTM-UBSW survey. February sales started the month down 0.2% from the January average. The year-to-year comparison weakened appreciably because [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Feb 10 2003
ECRI Leading Indicators Recover Further
The Weekly Leading Index of the US economy published by the Economic Cycle Research Institute (ECRI) rose through January to its highest level since August. The six-month growth rate of the index remained negative at -0.7% in the [...]
by:Tom Moeller
|in:Economy in Brief
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